B q 1 c q 4 d q 2 explain why the monopolist has no

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b. Q 1. c. Q 4. d. Q 2. Explain why the monopolist has no supply curve? A monopolist has no supply curve because it is the only seller. A monopolist does not equate price with marginal cost, nor is there a unique price that gets associated with each level of output. The price of a product for a monopolist is only influenced by demand. Interdependence of firms is most common in Select one: a. monopolistically competitive industries. b. oligopolistic industries. c. monopolistic industries. d. monopolistically competitive and oligopolistic industries. The breakfast cereal industry has a four-firm concentration ratio of 78 percent. Is this enough information to classify the industry as an oligopoly? Is a high concentration ratio evidence that an industry is not competitive? Yes, in order to be considered and oligopoly, economists say that a four firm industry must a concentration ratio greater than 40%. However, there are some flaws in how a four-form concentration ratio measures competition. Concentration ratios do not include foreign sales, and the concentration ratios are not calculated on a local scale, but rather on a national scale despite competition is, at times, relatively local. Also, the concentration ratio does not measure competition between industries.
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4/23/2018 Module 6: Homework Assignment 5/10 Question 8 Correct Marked out of 1.00 Question 9 Correct Marked out of 1.00 There are five firms in an industry with sales at $5 million, $10 million, $8 million, $12 million, and $10 million, respectively. The HHI is Select one: a. 1,805 b. 925 c. 2,138. d. 2,014. Collusion makes firms better off because if they act as a single entity (a cartel) they can reduce output and increase their prices and profits. But some cartels have failed and others are unstable. Which of the following is a reason why cartels often break down? Select one: a. Members of a cartel may resent having to share their profits equally. b. Most cartels do not have a dominant strategy. c. When a cartel is profitable the amount of competition it faces increases. d. Each member of a cartel has an incentive to "cheat" on the collusive agreement by producing more than its share when everyone else sticks with the collusive agreement.
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4/23/2018 Module 6: Homework Assignment 6/10 Question 10 Correct Marked out of 1.00 Use the following information for the next two problems.
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